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Go-ahead for Austal to build second LCS for the US Navy

HENDERSON-BASED shipbuilder Austal Ltd and its joint venture partner, General Dynamics, have received approval to build a second Littoral Combat Ship for the US Navy. The option has been confirmed following the announcement in October 2005 for the first General Dynamics/Austal LCS. Based on the 127-metre advanced Austal trimaran seaframe, which forms the platform for the ship’s operational and combat systems, the new vessel will be built alongside the Independence, which is currently in an advanced stage of construction in Austal’s shipyard in Mobile, Alabama. In November, Austal secured a $140 million contract with an overseas group to build multiple aluminium passenger ferries, with the option of further purchases. Austal has recently announced a $60 million extension to its multiple ferry order. The ferries are expected to be delivered in 2008. Austal chairman John Rothwell has previously told WA Business News that the company has three quarters of a billion dollars worth of ships under construction at Perth and Mobile shipyards. The company’s revenue for 2005-06 financial year increased 22 per cent from $319.4 million in 2004-05 to $389 million, while its net profit increased 35 per cent from $30.1 million in 2004-05 to $40.6 million in 2005-06.

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Austal (ASB)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/10/18

1 year TSR5 year TSR
235thSeven West Media16%-15%
257thNavitas10%1%
294thAustal4%21%
428thMonadelphous-12%2%
438thAusdrill-14%7%
744 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

27/01/16
$4.6m Bought
04/09/15
$333k Sold
04/09/15
$7.2m Sold
Total value as at the date of the transaction
Source: Morningstar

Revenue

5th-Monadelphous$1,742.2m
6th↓Seven West Media$1,637.0m
7th↓Austal$1,408.5m
8th-Navitas$934.6m
9th↑Ausdrill$909.3m
239 listed industrial companies ranked by revenue.
Source: Morningstar

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